Salary & Cost of Living in Melbourne, FL
Melbourne, FL: $40,923 median salary, cost of living index 98.5, $13.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$40,923
$20/hr
Cost of Living
98.5
US avg = 100
Minimum Wage
$13.00
per hour
Unemployment
2.5%
rate
Melbourne, FL Overview
Population
85,285
Median Salary
$40,923
Average Salary
$45,834
Avg Commute
20 min
Median Home Price
$295,000
Median Rent
$1,223/mo
Job Growth
+1.2%
Sales Tax
6%
Melbourne is located in Florida with a population of 85,285. The median household salary is $40,923 per year ($20/hour), which is $18,461 below the national median of $59,384. The average commute time is 20 minutes, and the city has a job growth rate of +1.2%.
Melbourne Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Melbourne, FL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$34,920
$2,910.01/month · $1,343.08/biweekly · Effective Rate: 14.7%
Gross Pay
$40,923
Federal Tax
-$2,872
State Tax
$0
Local Tax
$0
FICA
-$3,131
Net Pay
$34,920
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,410.25 | $40,923.00 |
| Federal Income Tax | -$239.36 | -$2,872.26 |
| Florida State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$211.44 | -$2,537.23 |
| Medicare (1.45%) | -$49.45 | -$593.38 |
| Net Take-Home Pay | $2,910.01 | $34,920.13 |
Salary Comparison: Melbourne vs Other Cities
See how Melbourne's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Melbourne, FL | $40,923 | 98.5 | $41,546 |
| National Average | $59,384 | 100 | $59,384 |
| Warner Robins, GA | $40,916 | 85.8 | $47,688 |
| Redding, CA | $40,933 | 105.8 | $38,689 |
| Lawrence, KS | $40,937 | 90.5 | $45,234 |
| Bossier City, LA | $40,898 | 87.8 | $46,581 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Melbourne
Melbourne's cost of living index is 98.5 (national average = 100). Living in Melbourne is 1.5% less expensive than the national average.
Median Home Price
$295,000
Median Monthly Rent
$1,223
Annual Rent Cost
$14,676
Your Salary's Purchasing Power
Your $34,920 annual take-home pay in Melbourne has the purchasing power of approximately $35,452 in an average-cost US area. Your $40,923 salary stretches further here than in most US cities.
Top Industries in Melbourne
Melbourne's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $40,923.
Salary Tips for Melbourne Workers
- No state income tax advantage. Florida has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Melbourne's top industries include Tourism, Agriculture, Aerospace. Targeting roles in these sectors can help you earn above the $40,923 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Melbourne, FL?
The median salary in Melbourne, FL is $40,923 per year, or $20 per hour. The average salary is $45,834. This is $18,461 below the national median of $59,384.
What is the cost of living in Melbourne, FL?
Melbourne's cost of living index is 98.5 (national average = 100), meaning it is 1.5% less expensive compared to the national average. The median home price is $295,000 and the median monthly rent is $1,223.
What are the best industries in Melbourne?
The top industries in Melbourne, FL include Tourism, Agriculture, Aerospace. The city has a job growth rate of 1.2% and an unemployment rate of 2.5%. Workers in these industries often earn above the city's median salary of $40,923.
How does Melbourne's salary compare to other cities?
Melbourne's median salary of $40,923 is 31.1% below the national median of $59,384. However, when adjusted for cost of living (index: 98.5), the real purchasing power is approximately $41,546.
What is the minimum wage in Melbourne, FL?
The minimum wage in Melbourne, FL is $13.00 per hour. This equals approximately $27,040 per year for a full-time worker (40 hours/week). This is $5.75 above the federal minimum wage of $7.25/hour.